5075 S. Syracuse Street
The Real Brokerage has agreed to acquire RE/MAX Holdings in an $880 million deal, creating a new holding company called Real REMAX Group and raising immediate questions about the future of one of Denver's most iconic corporate addresses.
RE/MAX was founded in Denver in 1973 by Dave and Gail Liniger on a maximum commission concept, where agents retained nearly all of their commissions and paid their broker a share of office expenses rather than splitting each sale. RE/MAX occupied 5075 S. Syracuse Street in the Denver Tech Center, a glass-and-granite high-rise along I-25 at Belleview since 2007. The building sold to Greenwood Village-based KORE Investments in 2018 for $115.2 million per county records, with RE/MAX staying on as a full-building tenant.
RE/MAX Holdings reported 536 full-time employees at the end of 2024 in its annual SEC filing, with nearly half located near its Denver headquarters. Roughly 250 local jobs are now in play. The deal projects $30 million in annual cost savings by 2027, and back-office consolidation typically follows mergers of this scale.
The Real Brokerage's principal executive office is at 701 Brickell Avenue, 17th Floor, in Miami, per SEC filings, where Real REMAX Group will be run by CEO Tamir Poleg after the deal closes. The combined platform will serve more than 180,000 agents across 120-plus countries, with professionals under both brands gaining access to Real's AI-powered transaction management platform, reZEN.
The transaction values RE/MAX Holdings at approximately $880 million, representing 7x fully synergized 2025 EBITDA, and is expected to close in the second half of 2026 pending shareholder and regulatory approval. RE/MAX shareholders can elect $13.80 per share in cash or 5.152 shares of the new company, with Real shareholders expected to own approximately 59% of the combined entity at close. Liniger, who controls roughly 38% of RE/MAX Holdings' voting power per public disclosures, has agreed to support the deal.